LISTED brick layer,
The firm expressed optimism the
Several companies are struggling to keep afloat owing to both a challenging operating environment and the impact of the Covid-19 pandemic.
As a result, many companies have not been able to make arrangements to pay their shareholders, opting to divert most of their revenue towards operational expenditures.
In a recent update, WL chairman, Washington Chidziwo said the firm had approved a dividend payout to be cleared before the end of next week.
"The directors have resolved to pay a final dividend of
"The dividend is payable to shareholders registered in the books of the company at the close of business on
The shares of the company will be traded cum-dividend (with dividend) on the
For the year ended
However, operating profit decreased by 50% to
Exchange gains amounting to
Net cash flows generated from operations amounted to
Sales volumes increased by 12 % compared to the prior year, despite effects of the Covid-19 induced lockdown on projects.
Chidziwo said the relaxation of lockdown conditions from the fourth quarter witnessed a steady increase in orders especially from individual home developers.
"The continued opening up of economic activity coupled with the RBZ introduced foreign currency auction system resulted in a stable currency and inflation rate. This will present opportunities from dormant and new projects including government infrastructure and housing development programs," he added.
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